CONSOL Energy is time tested. Together with our former parent, we have been producing and marketing the coal that has powered economic progress and growth in the U.S. and around the world for over 150 years. The Company’s endurance throughout economic cycles is not only a differentiating factor in the coal industry, but also a testament to the Company’s legacy of responsible business practices and our team’s dedication to safety, compliance, and continuous improvement. While “ESG” or Environmental, Social, and Governance considerations have recently evolved as a business designation, at CONSOL, ESG has historically been integrated into our long-standing commitment to be the safest, most responsible coal operator in the world.
“Sustainability” and “coal” cannot be uncoupled, as the societal benefits of coal are far reaching. Between 2012 and 2017, more than 370 million people worldwide gained access to electricity—an improvement that was primarily driven by coal. Yet, more than 950 million people still lack access to electricity.
The global coal-fueled generating capacity has surpassed 2000 gigawatts, with an additional 155 gigawatts under construction. 2, 3 Although coal’s global percentage of electricity generation is projected to decrease over time, coal will remain a vital component for developing economies—even when considering the International Energy Agency’s (IEA) Sustainable Development Scenario (SDS). As the energy mix evolves, the need for “sustainable” coal operators will become more critical than ever.
To that end, in the two years since becoming an independent company, CONSOL Energy has focused on driving long term value through technology, innovation, and sound resource allocation. Accordingly, we’ve outlined sustainability goals that enhance employee safety, reduce environmental impacts, benefit stakeholders, and increase operational efficiencies. Ultimately, we believe that steadfast execution of our strategy and performance against these goals will position the Company to supply the energy needed to power society into the future.
Despite volatile market conditions, 2019 was a year of Forward Progress at CONSOL Energy. We achieved sustainability targets such as:
- Employee safety incident rate 31% lower than the national average
- Environmental compliance record exceeding 99.9% for the 6th consecutive year
- Expansion of water recycling program to reduce surface water withdrawals by 42%, since 2016.
In addition, we launched opportunistic growth initiatives such as our Itmann Project, expanded
our technology endeavors and continued to delever our balance sheet. While we are proud of our performance to date, we strive to continuously evolve and differentiate CONSOL throughout the coal lifecycle.
I invite you to learn more in our 2019 Sustainability Report.
President and Chief Executive Officer